Australia's Total New Capital Expenditure Decreased By 0.4% In The September Quarter

  • Nov 29, 2018 AEDT
  • Team Kalkine
Australia's Total New Capital Expenditure Decreased By 0.4% In The September Quarter

On 29 November 2018, the Australian Bureau of Statistics released its September quarter data regarding the Capital expenditure in Australia. ABS reported that on-trend estimate basis the total new capital expenditure witnessed a fall of 0.4 percent to $29.434 billion in the September quarter 2018.

The Survey of New Capital Expenditure includes various industries such as Mining, Manufacturing and Other selected industries which includes industries like Electricity, Gas, Water and Waste Services, Construction, Retail Trade, etc.

Buildings and Structures

The trend estimates for buildings and structures decreased by 1.6 percent to A$15.760 billion in the September quarter of 2018. Buildings and structures for Mining decreased by 3.8%, Manufacturing decreased by 1.1 percent and other Selected Industries was relatively unchanged (0.0%).

On a seasonally adjusted basis estimate for buildings and structures decreased by 2.8 percent in the September quarter of 2018. Further, on seasonal adjusted basis, the Mining decreased by 5.7%, Other Selected Industries plunged by 1.3% and Manufacturing uplifted by 7.2% in seasonally adjusted terms.

Equipment, Plant and Machinery

The trend estimates for equipment, plant and machinery increased by 1.3 percent to $13.691 billion in the September quarter 2018. The equipment, plant, and machinery for Mining increased by 5.5%, Manufacturing uplifted by 2.6 percent and Other Selected Industries increased by 0.1%.

On a seasonally adjusted basis, the estimate for equipment, plant and machinery increased by 2.2 percent in the September quarter 2018. Mining increased by 7.4 percent, other Selected Industries increased by 1.2% and Manufacturing increased by 1.3% in seasonally adjusted terms.

Mining

The trend estimates for Mining industry decreased by 1.9% in the September quarter 2018. Buildings and structures decreased by 3.8 percent while equipment, plant and machinery increased by 5.5 percent. On a seasonally adjusted basis the estimates for Mining decreased by 2.7 percent in the September quarter 2018. Buildings and structures fell 5.7% while equipment, plant and machinery rose 7.4% in seasonally adjusted terms.

Manufacturing

The trend estimates for the Manufacturing industry increased by 1.7% in the September quarter 2018. Equipment, plant and machinery rose 2.6% while buildings and structures fell 1.1%. The seasonally adjusted estimate for Manufacturing increased by 2.7 percent in the September quarter 2018. Buildings and structures rose 7.2% while equipment, plant and machinery rose 1.3% in seasonally adjusted terms.

Other Selected Industries

The trend estimate for other Selected industries was relatively unchanged (0.0%) in the September quarter 2018. Buildings and structures were relatively unchanged (0.0%) while equipment, plant and machinery rose by 0.1%. The seasonally adjusted estimate for Other Selected Industries was relatively unchanged and Equipment, plant and machinery increased by 1.2% while buildings and structures fell by 1.3% in seasonally adjusted terms.

ABS has also provided its estimates for future capital expenditure. ABS has revealed its calculated Estimate 4 for total capital expenditure for the year 2018-19. The Estimate 4 for total capital expenditure for 2018-19 is $114,099 million which is 4.4 percent higher than Estimate 4 for 2017-18. The main contributor to the increase in Other Selected Industries which is 6.8% higher than the last year.


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